USAlliance FCU, an $800 million credit union based in Rye, N.Y., will now offer members a private student lending program thanks to a new partnership with the Washington, D.C.-based student lending CUSO Credit Union Student Choice, the CUSO announced.
“This solution provides new and existing members with an easy and convenient process for obtaining a private student loan, as well as much-needed information to help them make good financial decisions about college financing.”said Doreen Salvati, vice president of member services and consumer lending for USAlliance FCU.
With the addition of USAlliance FCU, Credit Union Student Choice now has 225 credit union clients serving nearly 15 million members. Founded in 2008, the CUSO allows partner credit unions to make school-certified private student loans that are held on their own balance sheets.
“As not-for-profit cooperatives, credit unions are uniquely positioned to not only offer a good loan, but a holistic solution that truly helps members understand their finances and how to manage low- or no-cost college funding options,” said Jim Holt, vice president of sales operations for Credit Union Student Choice.